| Economic Empowerment Tour |
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FOR IMMEDIATE RELEASE - September 14, 2009 “ECONOMIC EMPOWERMENT TOUR” TO OFFER BOTH FORECLOSURE AND JOB HELP - One-stop event to provide access to nine mortgage lenders and over 1,000 jobs -
Louisville, KY - Area residents facing the threat of foreclosure or seeking employment will have the opportunity to get on-the-spot help at the one-stop “Home Rescue Fair & Career Fair” scheduled Tuesday, September 15th, from 2 p.m. to 8 p.m., at the Kentucky International Convention Center, located in the city’s downtown business district.
The comprehensive event, being sponsored by the National Urban League and co-hosted by the Louisville Urban League, will provide concerned homeowners direct access to nine lending institutions capable of renegotiating existing home mortgages. Job seekers will also have access to over 1,000 immediate job openings being offered by participating employers and businesses. The entire event is free and open to the public.
“We are very grateful to be chosen by the National Urban League to host this event in
“Economic equality gaps existed long before this crisis, and now, multicultural communities are among the hardest hit by the loss of jobs and homes,” said Marc H. Morial, President and CEO, National Urban League. “The Economic Empowerment Tour events will give every family the necessary resources and information that may help them save a home or secure a job during these challenging times.”
Renegotiation of Mortgages Possible at Event
Representatives will be prepared to assess the homeowner’s situation and begin the process of working out a resolution for homeowners in
An important note: Residents interested in taking advantage of this mortgage mitigation opportunity are highly encouraged to bring financial documents and all appropriate paperwork to receive the best assistance possible including:
In addition to loan mitigation services, free legal advice will be available as part of the Home Rescue portion of the event. Participating attorneys will be from the Kentucky Attorney General’s Office, Legal Aid Society and Protect My Kentucky Home, an initiative coordinated through the Kentucky Housing Corporation. Various workshops aimed at reducing the possibility of home foreclosure will also be provided by area experts including Foreclosure101, Crisis Budgeting, How to Avoid Loan Fraud, The President’s Making Home Affordable Plan, and Making Your Home Energy Efficient presented by Lowe’s.
The Home Rescue Fair component of the Louisville tour stop is part of the Alliance for Stabilizing Our Communities, a national partnership of non-profit organizations including the National Urban League, the National Council of La Raza (NCLR) and the National Coalition for Asian Pacific American Community Development (National CAPACD) with help from Bank of America, that is hosting home rescue fairs around the country. The goal is to provide one-on-one sessions for troubled homeowners with certified HUD housing counselors and loss mitigation representatives from an array of lenders and servicers, as well as informational workshops.
Immediate Job Openings Also Offered at Event
The Career and Resource Fair portion of the event will feature over 60 employers who are looking to immediately fill over 1,000 jobs. The positions involve all levels of skills, ranging from entry level to management positions. Employers looking to hire include Citigroup, Prudential, Kelly Services, Louisville Metro Police, Lowe’s Home Centers, Neil Huffman Automotive Group, and the Base Re-Alignment Commission at Fort Knox Army Base among many others.
In addition, job seekers will have the opportunity to meet face-to-face with career counselors and to attend workshops on Resume Writing and Preparing for the Job Interview. Assistance for small businesses including SBA loan and contract opportunities under President Obama’s federal stimulus package will also be available.
“We are expecting a good turn out by businesses looking to hire,” said Ben Richmond, President and CEO, Louisville Urban League. “The fact that there is absolutely no charge for either businesses or job seekers to participate has contributed to the interest.”
A Timely Event for
The scheduling of the tour stop in
This rising tide of foreclosure is impacting African Americans even more significantly. According to federal data, people of color are three times more likely to have subprime loans: high cost loans account for 55% of loans to blacks, but only 17% of loans to whites. Even when income and credit risk are equal, African Americans are up to 34% more likely to receive higher rate and subprime loans with a prepayment penalty than are their similarly situated white counterparts. A 2006 report by the Center for Responsible Lending, entitled “Losing Ground” states that close to 20% of African Americans stand to lose their homes by the time this crisis is over.
The number of foreclosures is also believed to be tied to the rise in unemployment. According to the latest statistics available from the U.S. Department of Labor, the unemployment rate in
For more information for the 2009 Economic Empowerment Tour featuring a Home Rescue Fair and Career Fair," call the Louisville Urban League at (502) 585-4622 or visit its web site at www.lul.org or www.nul.org.
------------------------------ About the The
About the Since 1921, the Louisville Urban League has assisted disadvantaged people attain social and economic stability and prosperity through direct services and advocacy. The Urban League’s Center for Workforce Development touches more than 6,000 people annually through job search assistance and placement programs and through community career fairs. For more information, go to www.lul.org.
About the National Urban League Established in 1910, The National Urban League is the nation's oldest and largest community-based movement devoted to empowering African Americans to enter the economic and social mainstream. Today, the National Urban League, headquartered in |
